Why This Meeting With Jack Dorsey Could Mark A Turning Point For Bitcoin
Bitcoin is at the center of a political debate in the United States. Regulators, legislators, and government institutions seem to be leaning in favor of its detractors.
The recent conflict over the infrastructure bill, with a provision that could significantly hurt the crypto industry, proved that there is a lot of power with those that opposed Bitcoin. Conversely, its proponents also displayed strength.
Relating Reading: Breaking Down The US Infrastructure Bill And Its Impact On Crypto
However, the industry is young and will need more allies to fight back on politics that could potentially be stalled or stop it altogether.
Aarika Rhodes, U.S. Congressional Candidate for the 30th District of California, asked for a meeting with Bitcoiner and CEO of Twitter Jack Dorsey. The invitation was made via that social network, and Dorsey accepted.
Hey @jack…I’m a Congressional candidate running to serve CA-30 in 2022 (angainst Brad Sherman).I would love to talk to you about #Bitcoin. 😉— Aarika Rhodes 🍎🦉🧢 (@AarikaRhodes) September 10, 2021
The product of this meeting could have major implications for Bitcoin. Rhodes is running on a pro-BTC platform against one of the industry’s worst detractors, U.S. Congressman (D) Brad Sherman. He is known for statements such as:
Cryptocurrencies, if they succeed, will have appeal to only two groups, narco-terrorists and tax evaders.
If Sherman have it his way Bitcoin and other cryptocurrencies would be ban in the U.S. shutting down the door on innovation in one of the most important economic hubs. Sherman is not alone on his stand, as Secretary of the Treasury Janet Yellen, and U.S. Senator Elizabeth Warren have proven.
Bitcoin detractors treat cryptocurrencies as a bi-partisan problem, and its defenders must do the same. Rhodes said the following after asking for a meeting with Jack Dorsey:
Bitcoin is not a partisan issue. People from all across the political spectrum invest in #bitcoin and that is their choice. I am happy with my stance.
Aarika Rhodes, A True Bitcoin Believer?
An award-winner teacher in California, Rhodes’ is running on a platform focused on academic inequalities, low-income communities, reforms for the U.S. criminal justice system, and financial reforms, including a pro-BTC stance.
Rhodes worked as a volunteer in the presidential campaign for Andrew Yang, also a Bitcoin supporter. In an article for Bitcoin Magazine, talking about the importance of financial literacy for students, Rhodes said:
Bitcoin is already changing finance and investment, and it has the potential to revolutionize the entire economy. If the federal government banned bitcoin, it would not destroy the technology, but it would help ensure that the American economy will lose out to foreign markets and investors.
This has been one of the concerns raised by all actors in the crypto industry operating in the U.S., by adopting anti-BTC policies, innovation could choose to migrate, as it has already done in the past in different countries. Rhodes added:
Calls to ban bitcoin are bad for the economy and ignore the rights of individual Americans to handle their own money as they see fit.
At the time of writing, BTC trades at $45,690 with persistent sideways movement as it recovers from a dropped to $43,000 that took place on Tuesday. Reclaiming the high area of its current levels has become imperative for BTC’s price to retake bullish momentum.Source